Mubasher TV
Contact Us Advertising   العربية

AUB Kuwait completes sale of stake in KMEFIC

AUB Kuwait completes sale of stake in KMEFIC
AUB Kuwait is affiliated to AUB Bahrain
AUB Bahrain
AUB
0.21% 0.97 0.00
ALMUTAHED
ALMUTAHED
-0.35% 288.00 -1.00
KMEFIC
KMEFIC
0.71% 99.70 0.70

Mubasher: Ahli United Bank – Kuwait (AUB Kuwait) announced that its 50.41% ownership in Kuwait and Middle East Financial Investment (KMEFIC) represents the ratio of selling 130.71 million shares at a value of 58.1 fils per share to the total outstanding shares of KMEFIC.

The bank stressed that in case ratio is calculated upon the issued shares of the company, the percentage of the sold shares will equal 49.55% of KMEFIC’s issued shares, according to a disclosure to Boursa Kuwait on Thursday.

Earlier in August, Ahli United Bank – Bahrain (AUB – Bahrain) and AUB – Kuwait have concluded an agreement to sell their stakes in KMEFIC. The banks' ownership holdings amount to 196.1 million of KMEFIC’s shares, which will be sold to Hamad Saleh Al Thekair at a price of 58.04 fils per share.